The African Export-Import Bank (Afreximbank) has signed a facility agreement lending $170 million to Egypt-based conglomerate Orascom Investment Holding.
The African Development Bank has invested €40 million to modernize the Owendo International Port.
The Board of Directors at the African Development Bank (AfDB) have agreed to a first rank loan of 51.26 million euros to finance the construction of a power plant in Malicounda, Senegal.
The African Development Bank (AfDB) has approved a €17.96 million loan to the Republic of Cameroon to finance the construction of a Ring-Road Project in the North-West Province of the country.
The Boards of Directors of the African Development Bank Group have approved S$322.35 million loans and grant to Burundi and Tanzania.
The East Africa cement market reached a volume of 14.4 Million tonnes in 2017.
TechnipFMC has signed an Engineering, Procurement, and Construction (EPC) contract with Middle East Oil Refinery (MIDOR) for the modernization of existing complex near Alexandria, Egypt
The Minister of Trade and Industry, Dr Rob Davies, says foreign investment if targeted and nurtured can drive economic growth and in turn contribute to much needed job creation and economic inclusion for all.
OFID – the OPEC Fund for International Development – has signed public sector loan agreements totaling more than $80 million. The agreements were signed by OFID Director-General Suleiman J Al-Herbish and ministers from the beneficiary countries.
The first phase of Tatu Industrial Park is nearly sold out, as demand for high-quality land for manufacturing, logistics and warehousing in the northern growth corridor of Nairobi increases at a record pace.
American engineering and construction company KBR, Inc. has announced that its UK operating subsidiary has been awarded a Front End Engineering Design (FEED) contract by BP for Phase 1 of the Tortue field Hub on the maritime border between Senegal and Mauritania.
Construction work on the development of the multi-purpose Berbera port in the Republic of Somaliland has started with a special ground-breaking ceremony to mark the occasion.
The possibility of free trade within Africa is an ongoing one, to which several African countries have pledged their support and signed their agreements. Though Nigeria has shown caution in joining The Agreement, its one champion is Aliko Dangote, Nigerian industrialist and wealthiest African.
At first glance, it seems business as usual, but that could not be farther from reality. Business has never been more positive, rapid, nor disruptive.
Kenya’s second National Construction Week at Kenyatta International Convention Centre from 7-9 November 2018, is set to enhance contribution of the construction industry towards the Big Four Agenda.
A new African construction entity, Mota-Engil Nigeria, has been formed to catalyze growth in the local market by focusing on execution of construction contracts and trade enabling infrastructure.
As industries grow, so does the job market, consumer satisfation and investor confidence. Nigeria is gaining a reputation as fertile ground for both business expansion and takeoff point for startups.
President Uhuru Kenyatta has signed into law a Bill creating a 15 percent tax relief for Kenyans buying houses under the Affordable Housing Scheme.
In one of the most historic developments in the country, President Uhuru Kenyatta and his Swiss counterpart Alain Berset have overseen the signing of a key agreement that clears the way for the recovery of assets acquired through corruption and crime in Kenya
DP World is considering setting up a logistics facility in landlocked Ethiopia to handle goods from a port it is developing in the semi-autonomous region of Somaliland, according to United Arab Emirates state news agency, WAM.
Williamsville Sears Management’s recently acquired subsidiary Femab Properties Limited has entered into an MOU with the Association of Senior Civil Servants of Nigeria Ministry of Defense Abuja to develop over 1,000 houses for their members.
Kenya’s progress in the construction of the Standard Gauge Railway (SGR) has earned praise from regional Heads of State who now want Uganda, Rwanda and South Sudan to follow suit.
Williamsville Sears Management Inc. has entered into the definitive agreement of the previously announced acquisition of Royal Systems & Services Limited in Ghana.
IFC, a member of the World Bank Group, has announced a new $1 billion debt financing for Indorama Eleme Fertilizer & Chemicals Limited, Nigeria, a subsidiary of Indorama Corporation, for the construction of a new fertilizer line.
Bolloré Transport & Logistics, SETRAG and four forestry and timber companies in Gabon have partnered in a project that seeks to reduce intermediaries in the transportation of raw material at the port of Owendo.
The European Union, Germany and indigenous renewable energy firm, Green Village Electricity Project have completed and activated two solar mini grid plants with the collective capacity to generate 100 kilowatts of clean electricity to power two communities.
South Korea ready to share its technological and industrial revolution experience with Africa says President Moon Jae-in
South Korean President Moon Jae-in has committed to sharing Korea’s technological and industrial experience with Africa and to help it compete in the 4th Industrial Revolution.
[Nigeria Business Week] With Construction, Agribusiness, Oil and Gas and startup hubs, Nigeria leaves no sector behind
Two years ago Nigeria was as good as drowning in debts, unemployment, reduced investment and general widespread discontent. Today, though still a work in progress, the country has exited recession and is fast regaining its momentum.
Nigeria has signed an agreement of $6.68billion with China Civil Engineering Construction Corporation for a major segment of rail line linking the economic capital Lagos with Kano, northern Nigeria's commercial hub.
Fairfax Africa Holdings Corporation has agreed to invest $24 million at current exchange in Consolidated Infrastructure Group Limited, a pan-African diversified infrastructure group, by way of a secured convertible loan.
IFC, a member of the World Bank Group, is providing a $15 million loan mainly in Egyptian pounds to Vinavil Egypt for Chemicals, a leading manufacturer of construction-related materials, to help the company boost production and create jobs.
The African Development Bank Group has announced the conclusion of a settlement agreement with CHINT Electric Co., Ltd., a power transmission and distribution equipment manufacturer and EPC contractor.
In full year results for the year ended December 2017, Lafarge Africa Plc recorded net sales of N299 billion. This represents a 36 per cent growth relative to the corresponding period in 2016.
[South Africa] Government completes $4 million first phase of Phuthaditjhaba industrial park upgrading
South Africa’s Department of Trade and Industry, dti, has completed the first phase of the revitalization of the Phuthaditjhaba Industrial Park which is based in the Free State.
Air traffic across Africa is expected to soar over the next 20 years to over 300 million passengers, which is great news for African economies - so long as they have the infrastructure to sustain it
TradeMark East Africa and Rwanda Transport Development Agency unveil $14.2 million project to improve transport on Lake Kivu
TradeMark East Africa (TMEA) and Rwanda Transport Development Agency have unveiled plans to commence on a project that will improve water transport on Lake Kivu, through interventions at Karongi port, Rubavu port and Rusizi port.
The President of Tanzania, John Pombe Magufuli, and the President of the African Development Bank, Akinwumi Adesina, commissioned the Dodoma-Babati road project on Friday.
International Consortium Signs Interim Phase Agreement with Federal Government of Nigeria for Rail Concession
Following its award of preferred bidder status by the Federal Government of Nigeria in May 2017, an International Consortium last Friday in Washington D.C, signed an agreement to proceed with the Interim Phase of the Nigerian narrow-gauge railway concession.
Growing industrial sector to drive Côte d'Ivoire uninterruptible power supply systems market by 2024, 6Wresearch
Construction of new industrial zones in cities such as Bonoua, Abidjan, Yamoussoukro, Bouake, Man, and San Pedro coupled with infrastructural development activities would fuel the growth Côte d'Ivoire UPS systems market over the coming years.
IFC, a member of the World Bank Group has announced the formal launch of ‘Africalease’, an association that will promote leasing across sub-Saharan Africa.
[Nigeria] NNPC awards Oando Engineering, Procurement and Construction mandate to develop Ajaokuta-Kaduna-Kano gas pipeline project
A two party consortium consisting of Oando, in conjunction with its midstream affiliate, Axxela Limited and Oilserv Limited, has been awarded the Engineering, Procurement, Construction mandate for the Ajaokuta – Abuja portion (Lot 1) of the Ajaokuta-Kaduna-Kano Pipeline system by the NNPC.
Historically, the growth of cities and their development has always been haphazard. For instance, the growth of Nairobi was based on the needs of the then new railway line that ran through to the port of Mombasa.
TradeMark East Africa and Northern Corridor Transit and Transport Coordination Authority ink $1 million deal to bolster trade
TradeMark East Africa (TMEA) and the Northern Corridor Transit and Transport Coordination Authority (NCTTCA) have signed a financing agreement worth US$ 1.05Million.
The British High Commissioner to Cameron, H.E. Rowan Laxton, and Mr. Luc Maglire Mbarga Atangana, Cameroon’s Minister of Commerce have laid the foundation stone for the construction of the Douala Grand Mall and Business Park.
The Nigerian Stock Exchange is set to migrate Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc to its Premium Board, 2018 sequel to them applying and meeting the Exchange’s listing requirements for the board.
Ministry of Housing, Royal Institute of British Architects and Zambia Institute of Architects partner to promote local architecture
An agreement has been signed between Zambia’s Ministry of Housing and Infrastructure, the Royal Institute of British Architects of the United Kingdom and the Zambia Institute of Architects in the field of Architecture, the built environment and urban development.
The Government of Rwanda and Government of Japan has signed a financing agreement worth $68 million for the Ngoma-Ramiro road upgrading project.
[Senegal] Bolloré Logistics delivers tamping machines for the Dakar Blaise Diagne International Airport express train
As part of the plans for an express train to link Dakar to Blaise Diagne International Airport the EIFFAGE Group, a French group in the construction of rail infrastructure, picked Bolloré Logistics to assist in shipping and delivery of two tamping machines.
[Rwanda] African Development Bank, partners fund construction of 208 kilometre regional road project set to benefit over one million people
The African Development Bank and other development partners have joined the Government of Rwanda to launch the rehabilitation of the Kagitumba-Kayonza-Rusumo road works in the Eastern province of Rwanda.
Archer Daniels Midland Company and Cargill have reached agreement to launch a joint venture to provide soybean meal and oil for customers in Egypt.
In a major boost to its Corporate Social Responsibility profile, Dangote Cement Plc, Ibese Plant has announced a multi-million Naira educational scholarship award for 115 students from its 15 host communities for the 2017/2018 academic session.
Actis, a leading growth markets investor has started construction on “Douala Grand Mall & Business Park”, Cameroon’s first destination retail & leisure mall.
Chinese manufacturing multinational XCMG has opened its first direct regional spare parts center in Kenya to serve business in East Africa.
Hermann Kamte, young Cameroonian architect and the founder of company Hermann Kamte & Associates (HKA), is the driving force behind the famous sketch of Lagos Wooden Tower.
Global provider of services in the hydrocarbon sector, KBR, Inc. has been awarded a contract from Indorama Eleme Fertilizer & Chemicals Limited for the Train 2 ammonia plant at Indorama's Port Harcourt site in Nigeria.
Mercury Asset Partners, a multinational financing and logistics company says it has mobilized $600 million for the implementation of various infrastructure and investment projects in Zambia.
Aliko Dangote has assured that the N250 million University of Ibadan Business School being constructed by him would soon be ready for commissioning.
As Egypt embarks on a massive infrastructure expansion drive to stabilise and expand its economy, underground and deep foundations works represent an essential element of preparation
Melcon Construction, a local construction firm, is to construct the nation's third most expensive road, costing 536 million Br, extending from Haile Garment to Jemo square.
Samuel Tafesse, the founder of Sunshine Construction, has announced plans to build a solar park in Ethiopia. “At the moment, we are exploring opportunities in power generation,” the 60-year old entrepreneur".
Construction of a US$1 billion project dubbed Virgin City has kicked off in Calabar Municipality in Nigeria’s Cross River State, Governor Ben Ayade has announced.
The Danish power plant specialist Burmeister & Wain Scandinavian Contractor, in consortium with MAN Diesel and Turbo, has been awarded a US$150.26mn contract to build a 120MW gas-fired power plant in Benin.
Nigeria’s manufacturing giant, Dangote Cement, has received legislative approval from the Liberian Senate for the production of cement in the West African country.
2018 is set to be a revolutionary year for Africa as the Land LayBy Holdings, the parent holding company of a flagship of real estate & fintech companies sets the pace for the incorporation of blockchain technology in the African real estate sector.
Israeli company Yam Pro Energy last week signed a $180 million MOU with Shapoorji Pallonji Group, owners of the TATA Group, to build a wave energy power station in Ghana.
Egypt said Tuesday the World Bank should be brought in to resolve tensions with Ethiopia over a massive dam on the Nile River that Egypt says threatens its water security.
The African Development Bank is taking the lead in facilitating the takeoff of one of Africa’s largest infrastructure project − the US $ 5 billion Nacala corridor rail and port project.
Phase one of the mixed use Blue Amber resort in Zanzibar was launched on November 30 2017. The aim of Pennyroyal, the long term investor, developer and manager of the luxury tropical development, is to create a resort that blends contemporary living with world class hospitality facilities.
Plans for new hydropower dams in Eastern and Southern Africa could increase the risk of disruption to electricity supply, research
Hydropower dams planned for eastern and southern Africa could put electricity supply at risk for vast regions because they rely on the same rainfall patterns for electricity generation.
Rwanda and World Bank sign $68 million grant to Improve Connectivity to Agricultural Markets Centers
The Government of Rwanda and the World Bank Group have signed a $68 million Additional Financing Grant Agreement for the on-going Feeder Roads Development Project (FRDP) sourced from the Multi-Donor Trust Fund (MDTF) for Rwanda Feeder Roads Development.
To help speed up travel and transportation in Namibia, the Board of the African Development Bank has approved a loan of $ 53 million to the Government of Namibia to upgrade a 210km stretch of railway in the west of the country.
In the bid to reduce the huge infrastructure financing gap in Sub-Sahara Africa, the African Development Bank has approved US $100 million to The Emerging Africa Infrastructure Fund, a Public Private Partnership company, to reduce gap.
[South Africa] Ford Struandale engine plant looks to expand production in 2018 as it marks milestone
The Ford Struandale Engine Plant in Port Elizabeth has reached significant production milestones this year as it gears up for expanded production to support the R3-billion investment in its local operations by Ford Motor Company of Southern Africa.
The President and CEO of the Dannish group Haldor Topsoe has announced the construction of a factory in Soyo municipality, Zaire province with the capacity to produce two million tons of fertilizer per year.
The SMB-Winning consortium , a major player in the bauxite sector, has presented to His Excellency Alpha Condé, President of the Republic of Guinea, a project to build an alumina refinery in Guinea
The African Development Bank and the European Commission ink agreements to co-finance road projects in West Africa
The African Development Bank and the European Commission on Monday 27 November 2017 signed five co-financing agreements to support road infrastructure projects in West Africa.
The Dangote Group of Nigeria, on November 23, 2017 formally launched its newest economic development industrial project, the Dangote Cement plant in Mfila, in Congo-Brazzaville.
The African Development Bank (AfDB) and other participating co-lenders has signed agreements for the financing of the Nacala Corridor project.
EFG Hermes Foundation and Sawiris Foundation for Social Development partner to realize integrated sustainable development in Upper Egypt
EFG Hermes Foundation and the Sawiris Foundation for Social Development have signed a memorandum of understanding (MOU) to launch an integrated sustainable development project in Naga’El-Fawal, Esna, Luxor.
The World Bank has launched its seventh edition of Madagascar’s economic update.
Bombardier Transportation has reached a significant milestone in its rail modernization projects with the Moroccan State Railway, ONCF.
Africa’s largest cement Company, Dangote Cement Plc has added fillip to the on-going efforts at economic emancipation of Africa by formally opening its 1.5mtpa capacity cement plant in Mfila, Congo Brazzaville,
The Board of the African Development Bank Group (AfDB) has approved a loan of €112 million to help finance the North-East Road Connectivity Support Project in Tunisia.
East African Community receives $1.2 million from AfDB to finance multinational road between Uganda and Tanzania
The African Development Bank East Africa Regional Resource Centre (EARC), and the East African Community (EAC) have signed a financing agreement of $1.2 million to finance the Project Preparation Phase of three key Multinational Road Sections between Masaka in Uganda to Kumunazi in Tanzania.
Ghana’s President Nana Akufo-Addo has led the ceremonial ground-breaking of the first phase of a 2,000-unit affordable housing project financed by Ghana Home Loans at Appolonia City, Accra's new city development.
[Nigeria] Marriott International and Landmark Africa Group announce signing of renaissance Lagos hotel
Marriott International and Landmark Africa Group have announced the signing of Renaissance Lagos Hotel and Marriott Executive Apartments.
The Board of Directors of the African Development Bank Group (AfDB) has approved $ 25 million in Kwacha equivalent to Zambia National Building Society (ZNBS).
Suez Canal Economic Zone Authority and DP World sign agreement for development of economic zone in Sokhna, Egypt
Admiral Mohab Mamish Chairman of the Suez Canal Authority and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, have signed a partnership to develop an integrated industrial and residential zone at Sokhna in Egypt.
Kenya Urban Roads Authority General Manager Daniel Muchiri has told CNN’s Building Bridges programme of the huge financial losses Kenya’s capital is experiencing as traffic jams grind the city to a halt.
During the first half of the year, Rwanda recorded a low growth rate of 2.9% on average mainly due to low growth of the industry and services sectors as activity in construction recorded a deceleration of -5.5%.
African countries offer major investment opportunities to Belt and Road Initiative, Baker McKenzie report
China's Belt and Road Initiative (BRI) is stepping up a gear, with new BRI-related projects estimated to be worth US $350 billion over the next five years.
The latest addition to the international NEC suite of contracts, the NEC4 Design Build and Operate (DBO), was developed to cater for contracts where there is a single point of responsibility for the development and construction of an asset.
Telecommunication provider, MTN has led the 2017 Top 50 Brands Nigeria for its innovation, Corporate Social Responsibility (CSR), online engagement, national spread, and brand popularity.
African Development Fund approves €48m grant finance for Guinea-Sierra Leone border road reconstruction
The Boards of the African Development Bank Group have approved funding of €48 million from the African Development Fund for the reconstruction of the border road from Guinea to Sierra Leone.
Pan African cement manufacturer, the Dangote Cement has maintained its strong hold in the Nigeria domestic cement market accounting for 65 percent of the Nigerian market volume.
QGIAM, the private equity arm of Africa focused investment firm Quantum Global has announced that on behalf of their investors, the sale of its interest in Savannah Cement, a leading Kenyan cement producer, has been completed.
Demand Management, Inc., says that Manufacture de Panneaux Bois du Sud (MPBS), a leading paper and forest products company, has become the first company in Tunisia to go live on the Demand Solutions DSX supply chain planning platform.
Africa’s migrant resources, which amount to more than $110 billion, could be a major source of funding for key infrastructure projects across the continent if properly harnessed.
African Development Fund approves US$ 141 million credit risk participations under Private Sector Credit Enhancement Facility
The Board of Directors of the African Development Fund (ADF) have approved a credit risk participations in eight loans cumulatively valued at US$ 141 by the Private Sector Credit Enhancement Facility (PSF).
The hotel sector in Sub-Saharan Africa has evolved during the past decade due to high demand growth, entrance of new global brands and increasing supply in major markets.